Information is the lifeblood of your organization, so it’s important to ensure your information is serving you to its best ability. There are three considerations to take into account when determining how to maximize the value of your information. You must first understand what it is that you have, then consider what you can do with it, and finally determine what you should do with it. These activities are key pieces of a thoughtful information management strategy.
As the Queensland Government Chief Information Officer puts it, information management is “the means by which an organization plans, collects, organizes, governs, secures, uses, controls, disseminates, exchanges, maintains and disposes of its information; as well as any means through which the organization ensures that the value of that information is identified and exploited to its fullest extent”.
While that definition is quite the mouthful, you can clearly see the complexity and level of attention that information management demands from upper-level management. And of course, it’s critical that all team members and resources across the organization diligently adhere to the company’s defined information management plan and policies.
Successful information management requires a wide array of resources to work in agreement. Data, information, technology, information systems, business process, and team members must all work in harmony for efficient and effective information management practices to be achieved.
Properly implemented information management tactics can give your organization a competitive edge. Below are some examples of how good information management practices will widely benefit your organization:
- Drive consolidation and interoperability among existing business intelligence (BI) assets
- Develop standards, definitions of information, and business rules
- Support the development of a framework under which new BI assets are created and existing assets can move toward a common vision
- Manage the proliferation of management information databases, marts, or data warehouses
- Limit “Cottage Industry” reporting resulting in “Islands of Information” and multiple versions of the truth
- Reduce costs by reducing multiple efforts to create, process, manage, and exchange data
- Receive an application-vertical, stove-piped view of data
- Improve overall data quality with data traceability/audit trails
To help you achieve these benefits, netlogx specializes in a plethora of information management services, including information alignment services, information lifecycle management strategy, information management requirements and roadmap development, as well as information risk management, among many others. Visit our website to learn more.